Iran wants to barter Oil with foreign firms to build housing
Iran is negotiating with Chinese and Turkish companies for building affordable government housing in possible oil barter deal oil and mineral goods, a member of the state housing council told
Speaking with ILNA news agency correspondent, Ahmad Donyamali said that the government is in talks with Chinese, Turkish and even a European company for contracting out part of the construction job.
Donyamali, without naming any companies, said that negotiations have proven foreign firms are offering much better prices than their Iranian counterparts.
"Iranian companies are asking almost double of what foreign firms are ready to accept."
"A price of $100 per square meter ($9 per sqf) has been offered for building cheap, prefab apartment buildings. This means more than a $24 billion investment for 4 million apartments, money that Iran does not have now."
He emphasized that Iran’s position is not pay any cash to foreign companies and is basing the talks on the principle of oil barter.
Iran’s President Ebrahim Raisi has promised to build one million apartments every year, during his four-year term to solve rising housing costs for ordinary Iranians squeezed by high inflation and an economic crisis.
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